Definitely a Capital Raising. Take a look at page 2 of the trading halt announcement. Share price will pull back on this ... probably back to 7.5c. I think that they can dilute up to 15% before requiring an EGM so if we assume they want to place 36 million shares @ 7.5 c they can raise 2.7 mio in cash. That'll help Promontorio along.
Price probably settle around 9.6c I think.
Ann: Trading Halt , page-7
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